I would like consideration given to providing an ECPI option when setting up a SMSF portfolio, which has an approved ECPI enabled.
There must be many? members who have a SMSF and have ECPI (Exempt Current Pension Income) enabled. The main difference between a standard SMSF and a SMSF with ECPI enabled, a ECPI enabled SMSF is exempt from income tax, and all assets are set at market value, and not individual parcel value.
For taxation, it is immaterial which parcel the sold shares are taken from, and FIFO or LIFO has no cost benefit, due to the sum of all share parcels are all seen as at market value.
For performance reporting, parcels in any given company can still utilise the FIFO/LIFO to indicate better performance. I am not sure what this effect will have on the cost base.
Maybe an option is to provide a 100% discount, compared to the present 0%, 33.3% and 50%